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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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From: kryptonic6	3/9/2005 1:04:28 AM
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Energy Minister anticipates oil at USD 100 Caracas, Monday March 07 , 2005 Venezuelan Minister of Energy and Oil Rafael Ramírez said Monday that oil prices may exceed USD 80 per barrel in case of "abrupt cut" in the output by some OPEC member countries. "This has been anticipated, and the US government should pay careful attention, as they continue being very aggressive in the Middle East and continuously threaten Venezuela," Ramírez stated during the TV show "In Confidence" aired on the state TV channel. The top official said that if Venezuela ceased to supply oil to the United States following an US aggression against the Venezuelan government or President Hugo Chávez, "there would be chaos in the oil market in the face of prices near USD 100 per barrel," with this being a "real catastrophe" for the world economy. Ramírez said that Venezuela, particularly the oil giant state company Pdvsa, is ready to decide on cutting oil supply to the United States and such action is "quite feasible." "Foreign super powers need to learn that Venezuela is a sovereign country that must be respected, and oil is a major component of our sovereignty," he said. Minister Ramírez confirmed the sale of some Pdvsa-owned Citgo facilities in the United States. eluniversal.com

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